Here are five key things investors need to know to start the trading day:
1. Starting Off Strong
All three major indexes began the second half positively, posting gains in Monday’s trading session. The tech-heavy Nasdaq Composite closed at a record high, gaining 0.83% to end at 17,879.30. The S&P 500 and the Dow Jones Industrial Average also closed higher, with the S&P 500 rising 0.27% and the Dow increasing by 0.13%. The tech sector surged 1.3%, with notable gains from Microsoft (up 2.2%), Apple (up 2.9%), and Nvidia (up 0.6%). Follow live market updates for more.
2. New Deal?
Paramount Global is exploring merger talks. According to insiders, the company’s leadership is actively meeting with executives from other media and tech companies to discuss merging Paramount+ with another streaming entity. Warner Bros. Discovery has shown interest in a potential deal, which could make a Max and Paramount+ combo more competitive against platforms like Disney+, Hulu, ESPN, and Netflix. This follows earlier preliminary merger talks held this year. A successful streaming deal could pave the way for other industry partnerships.
3. Boston Sale-tics
The Boston Celtics may soon be sold. The team’s ownership group announced plans to sell, with the controlling family citing “estate and family planning considerations.” The sale of a majority stake is expected to be completed by late this year or early next year, with the remainder closing in 2028. The sale, combined with sports media rights costs, could value the team at a record $4 billion or more, matching the NBA’s Phoenix Suns valuation in 2023.
4. Uncompensated
Top executives at Salesforce may miss out on a compensation plan. Investors voted against the plan after shareholder advisory groups raised concerns about CEO Marc Benioff’s equity awards. A regulatory filing on Monday showed 339.3 million votes in favor and 404.8 million against the plan, despite board support. Two shareholder advisory firms, Glass Lewis and Institutional Shareholder Services, recommended voting down the resolution. Earlier this year, Benioff received a second long-term equity award worth $20 million for the company’s strong performance.
5. Immunity
The Supreme Court sided with Donald Trump in a 6-3 ruling, granting him “presumptive immunity” for official acts performed as president. This decision impacts the election interference case brought by special counsel Jack Smith. While the former president is not immune for “unofficial acts,” the case will return to U.S. District Judge Tanya Chutkan. As a result, the likelihood of the criminal case going to trial before the Nov. 5 election has diminished.
